NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES March 14, 2017 – Vancouver, BC – Lithium X Energy Corp. (“Lithium X” or the “Company”) (TSXV: [...]
The world is shifting to clean and renewable energy to power homes and transportation. Just like electronic devices, all green homes and cars will require Lithium-ion batteries to store energy and power them. LiTHIUM X locates and develops lithium assets with the goal of supplying the increasing demand from global battery giants like Panasonic, AESC, LG, BYD and – soon – utility companies.
LiTHIUM X is a lithium resource explorer and developer with a focus on becoming a low-cost supplier for the burgeoning lithium battery industry. Its Sal de los Angeles project is situated in the prolific “Lithium Triangle” in Salta Province, Argentina. The project is comprised on 8,156 hectares covering the nucleus of Salar de Diablillos with approximately C$19 million having been invested in the property by previous operators, including $16.2 million in work completed at Sal de los Angeles between 2010 to 2015. It contains high grade brine with a NI 43-101 Mineral Resource Estimate of 1,037,000 tonnes of lithium carbonate equivalent of Indicated, and 1,007,000 tonnes of lithium carbonate equivalent in Inferred category.
LiTHIUM X is also exploring the district-scale 33,846 hectares Arizaro project located in one of the world’s largest and least explored salars thought to contain elevated lithium brine values. LiTHIUM X believes there is the potential to increase and enhance brine processing at Sal de Los Angeles, Lithium X’s flagship project, by combining with brine products from Arizaro. The entire salar is staked with other current land holders in Arizaro including Eramet, Sentient and REMSA (Salta Government).
Furthermore, LiTHIUM X has the largest land package in Clayton Valley, Nevada covering over 15,040 acres between its Clayton Valley North project and Clayton Valley South extension. Both land packages are contiguous to the only producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producers.
LiTHIUM X is listed on the TSX Venture Exchange under the symbol LIX.V.
The LiTHIUM X team has created several multi-billion dollar companies from scratch and has access to a global network of business, government and philanthropic leaders.
The team are major shareholders in LiTHIUM X and are focused on maintaining a sound share structure and financing the company in ways that benefit existing and future shareholders.
The technical and project personnel are leading experts, having lead exploration and development projects in Nevada’s Clayton Valley and throughout South America.
LiTHIUM X has three strategically located assets:
Management continues to actively pursue strategies to enhance its project portfolio.
The energy storage revolution is generating high demand for lithium, with some analysts forecasting order-of-magnitude demand increases.
Battery giants are scaling up lithium-ion production with mega factories and actively acquiring raw materials through long-term offtake agreements.
Companies already producing lithium are attempting to increase production. However, the majority of current production (both brine and hard-rock operations) are capacity constrained with geopolitical risk affecting some of the world’s major production areas.